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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/16/2009
CSUN (China Sunergy--$5.31; +0.06; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/c/csun.html
After Hours: $5.31
EARNINGS: 05/27/2009
STATUS: Flag. CSUN peaked to start 2008 and sold off in big swings. Double bottomed on the November and March lows and started the comeback. Broke sharply higher in the first week of June, and it clears that trendline that is now near 4.75. Nice strong volume on the break higher over the TL, and is now testing that move. This week CSUN has sold back to just over the TL, holding the 10 day EMA (5.09) on the Monday and Tuesday lows. Nice test of the breakout and looking for a solid move higher to show us it is ready to continue the move. That is when we move in.
Volume: 2.063M Avg Volume: 956.341K
BUY POINT: $5.44 Volume=1.5M Target=$6.95 Stop=$5.06
POSITION: FTU IA - Sept. $5c (58 delta, wide spread) &/or Stock
http://www.investmenthouse.com/ci/csun.html
Play Date: 06/16/2009
IDTI (Integrated Device Tech--$6.08; -0.18; optionable): Semiconductors
http://biz.yahoo.com/p/i/idti.html
After Hours: $6.08
EARNINGS: 04/30/2009
STATUS: Flag. Another stock that broke higher in early June and is now testing that move. IDTI gapped out of its 4.5 month base on strong volume, clearing the 200 day SMA (5.84) as it did. Strong move and now the test, our favorite place to enter. Held the 10 day EMA (6.07) on the Tuesday close and we are watching for a move higher off of that level. Looking for that higher close to show it is finished testing.
Volume: 2.569M Avg Volume: 3.211M
BUY POINT: $6.34 Volume=4M Target=$7.75 Stop=$5.78
POSITION: ITQ HA - Aug. $5c (75 delta) &/or Stock
http://www.investmenthouse.com/ci/idti.html
Play Date: 06/16/2009
LUK (Leucadia National--$22.83; -0.23; optionable): Lumber, wood production
http://biz.yahoo.com/p/l/luk.html
After Hours: $22.83
EARNINGS: 05/07/2009
STATUS: Cup w/handle. Based from November to April, then broke out. Rallied to the 200 day SMA (22.58) in early May, then faded back to the 50 day EMA (20.65) where it held, forming the bottom of the current 7 week base. Rallied up through the 200 day last Thursday on some solid trade and is now testing that support as the bottom of its handle. Looking for a strong break higher off of this test to show us the buy.
Volume: 1.226M Avg Volume: 2.403M
BUY POINT: $23.65 Volume=2.7M Target=$28.77 Stop=$21.99
POSITION: LUK IX - Sept. $22.50c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/luk.html
Play Date: 06/16/2009
OSG (Overseas Shipholding--$38.27; -1.11; optionable): Shipping
http://biz.yahoo.com/p/o/osg.html
After Hours: $38.83
EARNINGS: 05/04/2009
STATUS: Flag. A familiar pattern, eh? Broke higher in early May, then formed the current 5 week cup base. It surged out of this pattern last week on very strong trade, clearing the 200 day SMA (37.59). It is testing this week, coming back to the 200 day and 10 day EMA, now coincident. Held them both on the close. Great place to make a bounce.
Volume: 692.822K Avg Volume: 1.174M
BUY POINT: $38.72 Volume=1.2M Target=$45.95 Stop=$36.08
POSITION: OSG JG - Oct. $35c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/osg.html
New buy point on current position:
Play Date: 06/16/2009
ISRG (Intuitive Surgical--$158.22; -1.06; optionable): Medical appliances
http://biz.yahoo.com/p/i/isrg.html
After Hours: $157.86
EARNINGS: 04/16/2009
STATUS: Test 10 day EMA. Looking to add some ISRG positions as ISRG has dropped back this week, but is holding the 10 day EMA (158.50) Monday and Tuesday. Strong break higher last Thursday on volume then gave it back. Still a nice 6 week base consolidating the 6 month base immediately preceding this current pattern. Very nice and is setting up for the next surge.
Volume: 871.386K Avg Volume: 1.473M
BUY POINT: $161.22 Volume=2M Target=$194.95 Stop=$153.48
POSITION: AXV JL - Oct. $160c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/isrg.html
Downside:
Play Date: 06/16/2009
RIG (Transocean--$78.76; -1.90; optionable): Offshore drilling
http://biz.yahoo.com/p/r/rig.html
After Hours: $78.70
EARNINGS: 08/05/2009
STATUS: Double top. Nice rally from support at 70 from mid-May. Moved higher into June but peaked at 79. Tested then rallied up to 80 two weeks later. No volume as it moved to these peaks. RIG has now stumbled, gapping lower Monday, but coming back off the lows. Tuesday RIG gapped higher but could not hold, closing just below the Monday low. Looks ready to test back to support. Ready to move in as RIG continues downside toward the 50 day EMA (73.71). A move to the target lands a 42%ish gain.
Volume: 4.942M Avg Volume: 5.756M
BUY POINT: $78.52 Volume=6M Target=$74.48 Stop=$80.25
POSITION: RIG SP - July $80p (-50 delta)
http://www.investmenthouse.com/ci/rig.html
Good Investing!
Jon L. Johnson and your IH Alerts Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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trade stock
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